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an internet sales tax. red lines in the sand, a look at the administration's shifting response to reports of chemical weapons used in syria. syria welcome the >> paul: welcome to the journal editorial report. i'm paul gigot. president obama marked the hundred death dry by the second term and it's been a rocky start on spending control and sequester and tough battle for the immigration reform. he was asked if he still has the juice to get it done. >> maybe i should just pack up and go home? rumors of my demise make are a little exaggerated. things are dysfunctional up on capitol hill. despite that, i'm confident there is a range of things we can get done. >> paul: joining the panel, dan henninger, james freeman and washington columnist kim strous sal. you are down in that hot house. is this the new consensus sus that is he a lame duck? >> no, i don't think that is the consensus. what i think the president is doing here, he has put forward a very liberal vision of some of the policies he would like to see passed on higher taxes, on guns, maybe on immigration. i think he is going to push ver
this evening with blakeing news...a short time ago, the senate voted to pass an internet sales tax. john harwood live in washington with the late e. good evening, john. >> good evening, larry, the senate just finished voting after holding the voting opened for senators to arrive in town. 69-27. they passed this bill. right now, there are a lot of online sales taxes that are on the books as owed but are not collected because consumers don't file tell with their tax return. senate bill would force states that have sales taxes to levy those taxes in states where it applies and not have consumers be obligated to file those on their tax return. however, larry, this is not likely to go anywhere because they tell me the appetite for anything that raises taxes on anybody, even though they're owed and not checked is not very great. look for the house to send it to the house judiciary committee. study it to death, not pass it in this congress. >> all right. we'll leave it there. many thanks to john harwood, we present it very much. -- appreciate it very much. >>> let's bring in texas republican se
't we paying enough for all of tholce new taxes. plus. may day. unions demanding the halftime deporting immigrantings. does big labor have the interest of undocumented workers in mind or all about saving themselves. cash in looking out for your best interest right now. i am eric boling, welcome to cashing in . john and tracey are in the studio and joining us is president obama's former top economic advisor in the boot school of business mr. austin goldsbee. first. democratic senator mabaccus said the healthcare law could be headed for a train wreck. >> unless we implement it properly it is a train wreck. i agree. >> we are not spending enough money to implement it properly. >> yes. we have the menu, but we don't have way to get to the menu. >> start with that. that is chalk full of taxs and fees to pay for it. and that spending more money and taxings. and it is a train wreck. doctors leaving the practice and insurance premiums going up and hours cut at work and that is it the result of central planning. that leads to the destruction of valuings. for the president to say it is it a bump
with low taxes. climate makes up about 5 percent of people's decisions. a small quality of life factor. not the big factor everyone thinks it is. >> and we see that in the data. states without an income tax to doing very well, states like wyoming, states like washington state. all gaining people and then come john: so it's not just the weather. what one of the main things to learn? >> out of all 50 states there are nine men put a price of work is zero. that makes them very competitive compared to a basket of other stat that have a high price on work. john: price of work. >> state income tax. >> nine income tax. the big analysis for states like texas and gains of $2 billion last 15 years. those states like them gained 146 billion. the reverse, stays with the highest among personal income-tax rate lost. john: the top states, florida, arizona, texas, north carolina, nev., the biggest losers. texas, really? >> i think what i call the magic formula. and it is taxes on one hand and get labor policy on the other which means to a business being free to hire and fire the people you want. what y
in washington, d.c. rich, what stood out to you? >> we talked taxes. we discussed entitlements. of course that debt ceiling fight, the biggest one of the year. the house plans on passing a bill that would soon allow the treasury department to prioritize debt payments white house minutes before interview the president would veto saying it is up to congress to pass a clean increase in the debt ceiling. we asked the speaker about that white house veto threat. >> you know the president can say this but y know, he is the person who, when he was united states senator voted against increasing the debt limit. this is always become a political football. the federal government has spent more than what it brought in for 55 of the la 60 years. this year we'll have the highest amount of revenue to our government we've ever had in our history and yet still have a trillion dollar budget deficit. we have a long-term spending problem that has to be resolved. and it will be resolved. and so, i don't know what it will take. republicans put our budget out, passed it back in march. democrats passed a budget i
of softer the a >>> mr. nagesh what is going on in congress on the sales tax? >> guest: the senate teed legislation that would require online retailers to charge the sales tax for purchases, even for people who buy a out of state. so, essentially an online retailer here in d.c. would have to charge the sales tax for michigan, when someone from michigan bought a product from them online. >> host: is it going to pass? >> guest: it doesn't look like very likely it will pass the senate. we are almost certain of that because it's passed the cloture twice and has about three-quarters of the chambers support. the house is less certain. there is resistance to the house leadership isn't fond of the increases or anything perceived of the tax increase. there are some concerns about the implementation of the bill itself, how difficult it would be for online retailers. but i think it's fair to say that this is something that has momentum. it's going to get a strong look in the house and if it doesn't happen this year it is something we can see in the next year or two. >> host: what is the name of th
, the senate is preparing to push the renewed internet sales tax. bring and mortar retailers say it's only fair but fair to whom? and red lines in the sand. a look at the administration's shifting response to reports of chemical weapons use in syria. welcome the journal editorial report i'm paul guy guy i gigot. coming off defeats gun control and spending sequester and facing a tough battle on immigration reform. the president was asked during a press conference tuesday whether he still had the juice to get things done. >> maybe i should just pack up and go home. as mark twain said, rumors of my demise make me a little exaggerated at this point. right now things are pretty dysfunctional up on capitol hill. despite that i'm actually confident that there are a range of things that we are going to be able to get done. >> paul: joining the panel this week "wall street journal" columnist and deputy editor dan heatinger assistant. james freeman and washington columnist kim strowfl. so, kim, you are down there in that hot house. is this the new. >> lucky. >> paul: is this the new consensus that presid
rules and taxes. but it's also good because it creates competition. when one state does something stupid people leave that state and take their talent and money with them. between 1995 and 20104, 43 million people moved from one state to another. which states were the winners and which were the losers? let's have travis brown who tracked the movement in his book "how money walks" and he created a clever way to see who is moving where and why. darcie also runs a bank number two state in terms of money and health. explain this cool new thing you created. >> thanks to the irs we can track everybody's income moved between the states over the last 15 years. we see big losses from states like new york. >> now you have new york my state and i see people are leaving for florida and lots to california even. but they are coming in from michigan at least. >> there's not the kind of in migration you want to see. but for a state like florida you are seeing a massive amount of people and income coming in. $86 billion. >> florida was the number one gainer. >> that's right. >> darcie you run the gold wa
to be financed by your tax dollar to carry this out. it's a dumb idea. it's a dumb plan. and in the interest of everybody saying, oh, these people don't have health, they're entitled to health, they're not entitled to health. >> what do you do with them? >> they are ep titled to live in a country that entitles them some freedom. >> i get that obama care is a total mess and will not fix the problem. >> you are supporting it. >> i maam not supporting it. >> if you listen to what i'm saying, i think obama care is not going to work. i'm telling you that i think every single person that lives in this country has the right to some sort of care. you cannot let people die in the streets. we are nauticot calcutta. >> then you're complicit to obama's basic premise. what has made america different is we were the first country that said your life belongs to you. you have a right to your own life. by establishing a good or a service as a, quote unquote right, you're enslaving everyone. once again rights have got to get cut off. >> jonathan answer the question. >> button up this segment. >> yes, i hate ki
, economic ties. nieto is working to break telecom monopolies in mexico, to rework the nation's tax code, to expand the oil industry. president nieto wants new trade agreements with the u.s. and with other nations. trade between the u.s. and mexico going both ways was $520 billion in 20 126789 mexico is the u.s.'s second biggest export market for u.s. goods and for 22 of our 50 u.s. states mexico is the number one export market. on the flip side, the u.s. is the number one buyer of mexican goods. three, immigration reform. another big obama mexico priority. notably, president obama's endorsement of the pass for citizenship for the 11 million illegal aliens in the u.s. mexico has long l protection fo who work in the u.s. >> question, what is mexican president enrique pena nieto's principle concern regarding immigration? >> i think what he wants desperately is amnesty and a path to citizenship, ires access for mexicans to come to this country. i think he is remaining somewhat silent because he knows it's sensitive. i know he knows that marco rubio is an indispensable man and not barack oba
of income. payroll taxes and interest income on the trust fund is built. i can go into that and a little more detail, but i'm not sure you'd want me to. the point is the current projections by the social security administration and the congressional budget office and what you see in the media all the time that in 2033, the latest estimate they have come a social security will run a run in the trust fund. that means i will have to pay benefits as the current payroll tax revenue coming in. what that means that projections are correct and remember these are only projections for social security would only have enough money to pay 75% of benefits in 2033. what that means is that congress would either have to -- how was it has to be sent in to balance the books because social security is not legally able to draw from other sources. it has to use the income it gets from those two sources i mentioned. congress would have to cut benefits, to match the money coming in or have to raise payroll taxes or figure out some other source of income to adding to make up the difference. so that is what we ar
different states and 9,600 local jurisdictions. they would find themselves having to pay tax filingings attentionly in all 46 states monthly or quarterly and to be subjected potentially to audits from each of those local counties, each of these local municipalities. you know, i have with me here today a listing of all of the tax rates in these 9,600 different jurors diksz and it is -- jurisdiction and it is truly indecipherable, you can pick any state and see the county and get the different tax rate and in a lot of counties, for example, i just opened this up at random, and -- all right so in colorado which i happened to open it up to, if you look in taylor park, if it happens to come from the 81210 zip code, the tax rate is 4.5% but if it's in the same county but comes from the 8123 zip code the tax rate is 8.25%. now, small businesses, a small mom and pop just getting started on the internet would be required to comply with all of these taxing jurisdictions, to send the taxes to all of these taxing jurisdictions and to be subject potentially to audits from 9,600 taxing jurisdictions.
't spend more implementing it but aren't we already paying more with those new taxes? mayday, unions demanding the immediate halt to deporting illegal immigrants. does big labor have the best interests of undocumented workers in mind or is this all about saving themselves? "cashin' in", looking out for your best interests right now. i'm eric boling, our "cashin' in" crew, wayne rogers and tracy burns and jonathan hoenig and top economic advisor, a professor at the university of school of business, more austin goolsby. first, max balk us said the healthcare law could be headed for a train wreck. harry reid says he is right if we don't spend more money on that. >> he said unless we implemented properly it will be a train wreck and i agree with him. >> we're not spending enough money and not implementing properly? >> here is what we have now. we have the menu, but we don't have any way to get to the menu. >> eric: that menu is chalked full of taxes and fees to pay for it. with a gives? >> how does harry reid believe that spending more money, more taxes is going to have any beneficial ef
is cracking down. and a major tax bill passes in the senate, pitting republican against republican, democrat against democrat, and grover norquist against big retailers. all that, plus click 3. we begin with new and mounting pressure on the united states to get involved in yet another war on the middle east. a war that just in the last few days has shown signs of erupting further into a true regional conflict. syria has been embroiled in a civil war for two years. what you're seeing are israeli air strikes along the outskirts of the syrian capital. this is the second time in three days on sunday. the syrian government responded with outrage calling the bombings a declaration of war and if that's not a warring enough sign the civil war could be poised to spill over the borders, iran has taken the opportunity to announce it is ready to support the syrian regime with military training. it is something many western officials believe iran has already been doing. but the fact they're now willing to go public is an important sign of the potential for this conflict to continue to spread. in another
that is stealing a lot of businesses from other states, california among them, because of the lower taxes and fewer regulation, but that something i don't think that the president will be champions later this week. >> i doubt he will, i am glad he is coming to austin, in my district, apple is building a huge facility. neil: i forgot about that. >> yes, that is right, they are hiring hundreds if not thousands of texans for this, reason they came to texas we have a fair, transparent tax policy, a balanced regulatory regime, we have fiscally responsible government, and we also believe in a true all of the above american energy solution, i am glad he is coming to texas, i would hope he would use two ears and listen and not talk as much, i think that country would be better off if he would adopt our way of thinking about jobs instead of this big government issuwashington solution he kepts talking about. neil: critics of what you said, said that texas is anomaly in and of itself because of the oil. like the win at your financial back the. you say what to that? >> well, i would disagree. whole heartly, lo
fake tax returns defrauding the government on their dime. >> this is gravely serious. >> the report is alarming. >> the utilities commission employees speaking out. why the authority is compromised and why lawmakers are calling for change. >> you are not a cop? >> no, no, no. >> a black market for dead animals? we go under cover with hidden cameras to expose the sales. here is tony kovaleski. >> good evening. tonight, getting answers to the questions you ask. holding the powerful accountable, investigations that are making a difference. first we investigate time sheets. the santa clara county district attorney's office secretly altering time off to give top paid employees free vacation. joseph rosen says it makes up for a 5% bonus some lost in the wake of budget cuts. >> hundreds of top sheets altered. >> i directed this to happen. i wanted this to happen. this is exactly what i wanted to happen. >> reporter: the district attorney, jeff rosen directed his d.a. to give out free time off. if an employee asked for vacati vacation time and it's changed to administrative leave, that's ok
's tax policy, whether it's regulatory policy, whether it's education, whether it's skills, whether it's housing, you know, you can't fix housing. you need to fix the structural issues of the economy. housing then becomes an innocent bystander of that progress. >> we'll talk about that in a few minutes. chad, you're nodding your head as rick is talking. >> rick is right. >> we had warren dubuffett on earlier this morning. his comment on fed policy, he admits it's a long experiment on the economy. but he agrees that it should have been done to begin with because we would be in much worse shape if they hadn't added all this liquidity here. >> you're right about that. the federal reserve did the right thing by using their balance sheet to offset the deflationary trade that was in process. but what rick is pointing out is a structural issue. for instance, private sector jobs. we're at 114 million today. that's terrific. by the way, 2001, private sector jobs were at 112 million. we've only created 2 million jobs with a population growth of 30 million. so this is the point that rick is makin
, the fiscal summit hears from members of congress about the u.s. debt and tax policy. in less than two hours the economic discussion continues with former president bill clinton and microsoft's bill gates. our live coverage tomorrow on the c-span network includes south korean president park geun-hye. you can see that on c-span at 10:30 a.m. eastern. on c-span3 the house oversight committee hold hearings on the attack on benghazi, libya that witnessesur americans. are scheduled to include mark thompson, the acting deputy assistant terror -- secretary for counterterrorism. and eric nordstrom, former security officer in libya. >> weapons of war in previous centuries, for now, symbols of sovereign authority. of security and so much of the administration. we will see more of him in a short while. lord chancellor, kenneth clark. the duke of norfolk and the lord great chamberlain. the queen and the duke of edinburgh. >> my lords and members of the house of commons -- i focus on economic growth, justice, and constitutional reform. >> queen elizabeth delivers her government's priorities for the upcom
. they are unemployed and not contributing to the tax base of this country. they are parasitic in throwing off a bit while regular americans -- you are part of it. thosent to raise taxes on who are still working. host: she is a reporter with "the washington post." you could explain how these numbers are quantified and how they come up with these numbers. guest: i do not support cannot support the administration. he is right when he talks about the real number of the unemployed. the way the labor department measures the number of people out of work is very technical. in order to be considered technically unemployed, you have to be out of a job and have to have not looked for jobs within the past four weeks. that is a fuzzy measurement. some folks may be unemployed but did look for work in the past four weeks but will look for work in the next four weeks. they're different categories of books marginally attached to the labour force who are discouraged workers who want a job but have given up looking because they feel there is nothing out there for them that add to a larger rank of the unemployed work
of them, though, while they were in office. let the buyer beware: the days of tax-free online purchases may be ending. pat caused a stretch limo filled with partiers to burst into flames? and a utility is hit with a e fiive fine after an explosion incinerated a neighborhood. that's when the "cbs evening news" continues. ♪ [ male announcer ] pain not sitting too well? burning to feel better? itching for relief? preparation h offers the most maximum strength solutions for all hemorrhoid symptoms. from the brand doctors recommend most. preparation h. don't stand for hemorrhoids. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ >> pelley: a story that broke in >> pelley: a story that broke in california over the weekend was a horrifying that it made headlines all over t
of the arias trial and vice-versa. >> i love it. they are on the verge of taxing you yet again, but this time on your on-line shopping. the senate voting tonight on a bill that could add 25 billion tax dollars to your shopping spernses. experience. details when we come back. ♪ >>> finally a shopping segment. attention on-line shoppers. if you like to buy things over the internet, oh ya you do it is will be to get more expensive if the senate gets its way. in a few minutes the senate will vote on the quote market fairness act allowing stores to collect taxes for on-line purchases. currently they can only make -- make companies selling on-line to you. if they are physically located in the state, the bill is expected to pass the senate. it is the opposition in the house. >> so everybody likes this topic today. we are all shoppers, big shoppers here, right? >> i just want to po nie t out don't worry it doesn't apply to services. >> we are getting off on the wrong foot. >> i am not sure. >> i am not sure. i think they are opening the doors and taking any purchases whether it is goods and/or ser
. >> and are the days of tax-free shopping, sales tax-free on the internet numbers. we have both sides of the debate that's in congress, all of that tonight on "nightly business report" for tuesday, may 7th. good evening, everyone. another historic close on wall street today. stocks sprinted from the open and really never looked back like one of those horses in the derby. >> exactly. what a day it was and it was historic, tyler, on wall street. the dow closed about 15,000 for the first time ever and the s&p 500 also set a new closing high. so these milestones are another chapter in a remarkable year for the major stock averages. powering stocks higher today, a batch of better than expected earnings reports. more stimulus from central banks and this time from australia and renewed confidence by investors that the u.s. economy is going to be okay. the u.s. rally came in reaction to strong stock performance in world markets this morning and we'll have more on that in just a moment. first, here's a look at the closing digits on wall street and closing at a record 15,056. the nasdaq added three and the s
. the ryan republican budget would lower taxes for the rich, while the middle class foots the bill. that's in their budget. and the republican budget would rip the safety net from under the elderly, middle class, veterans and the poor. no wonder they don't want to go to conference. no wonder they don't want transparency. the democrat budget would preserve and protect medicare for children and grandchildren. the democratic budget would ask the wealthiest americans to pay a little bit more to help reduce the budget. the democratic budget would balance smart spending cuts with new revenue from closing loopholes. it's obvious then why republicans don't want to compare the sensible republican budget with the extreme house budget. you know, mr. president, the extreme house republican budget was resoundingly rejected by the voters in november. that's what governor romney touted. remember, congressman ryan was his vice presidential candidate. they ran together. now it's time for each side to stand for what it believes. as the junior senator from texas said late last year -- quote -- "we've got t
agenda of higher taxes, more and tougher regulation and, of course, much bigger government. but taxes turns out to be one of the most prosperous states and the union by doing just about the exact opposite of everything the president has been, well, recommending. currently it boasts an unemployment rate over one point below the national average, some of the lowest taxes in the country. here is the president earlier today urging his texas crowd to hopeless their local lawmakers to jump on the obama agenda bandwagon. >> everyone's a while i'm going to need your help to lean on their elected representatives and say, hey, let's do something about this. even if you don't like it politically, if it is a good idea, let's go ahead and support it. sometimes i need is a chance to pressure their members of congress to do the right thing. lou: did you see that crowd getting so excited? welcome back on capitol hill one of those texas lawmakers being upon the president and the so-called gang of eight on the issue of immigration reform. senator ted crews of texas becoming a force in the republican pa
class and opponents of higher taxes. he came out fighting, taking opposition plans to raise taxes yet again. it is a message that residents of the party faithful gave him a rousing round of applause. , sugar taxes, that is what they want. any relief --we cannot break the middle class with taxes. the promise of no more taxes will a popular, election time. the fiscal conservatives are sticking to principles heading into this year's federal election. polls placed in the 45% margin needed for parliament. the keynote address have the desired effect, rallying the rank and file. he has proved his leadership skills. he showed we are strong and ready. we are ready to start this campaign. the speech was fantastic. he stated what we stand for. we oppose. including, in a maze of freedom, and higher taxes. >> they are putting together the party's principles. the parties leadership candidate delivers his campaign address this sunday. >> before political correspondent covering the conference. we asked him how confident the ftp is, given its weak standing in opinion polls. >> it is a strangely chaste
not cut spending and raised taxes as it has since 2011. in prior recoveries the government has added 1.7 million public sector jobs according to a new study. in this current recession and recovery public sector employment has decreased by more than 500,000 jobs. this current recovery look anything like the previous recovery, the austerity crowd didn't make massive cuts we might have as many as 2.2 million more people working. the elite consensus on austerity is showing it has no effect on top republicans in washington as john boehner indicated just after that "time" story appeared this week. >> what the president doesn't seem to understand is that it's his policies that are under mining economic growth. the economy is struggling. we've had four wears of slow, anemic economic growth and job growth and frankly it's unacceptable. >> i want to bring in jared bernstein. heather mcgee. josh barrow. and lauri montgomery. josh, i guess the striking thing to me about what boehner said is you have this story in the "new york times" saying wall street investor class is saying austerity isn't work
an internet tax, but so what? won't the house shred it? a democrat will join us on that subject in a moment and warren buffett sits down with liz claman in omaha, that and the opening bell, wall street, next. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communicatis solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. >> so, you're in the stock market, you own a couple of stocks and were you watching on frid
are investing in technology & finance. welcome to the state where cutting taxes for business... is our business. welcome to the new buffalo. welcome to the new buffalo. welcome to the new buffalo. new york state is throwing out the old rule book to give your business a new edge, the edge you can only get in new york state. to grow oustart your business, visit thenewny.com ♪ connell: we are going to do this. dagen: you have to explain this. that is the home i want. connell: a $35 million place, apparently. dagen: fictional values on fictional properties. connell: why not. dagen: adam shapiro is across the hudson river in weehawken, new jersey. >> good afternoon. there is a building boom going on with condominiums. several condominium developments now up and running. people are buying these. five years from now, they will have another 800. to give you an idea of what is happening with the prices, not just in new jersey, but around the country, some of the best markets are reno, nevada, santa barbara, california, south carolina, condo prices up 39%, rhode island, 28%, of course, nevada, condo pr
, and if mistakes are made, and, clearly, we made a huge mistake when the taxes were double the size that we intended. people forget that, but it was true, but once it got put into law, and people began to take partisan positions, and republicans took everlasting credit for it, the deficit widened, and it became almost impossible to reassemble a coalition to undo the damage that had been done or the harm that might have occurred, and we did, you know, have several tax increases to close some of the gaps, but what i learned is when mistakes are made in this big macedonian government we have with the divided powers and checks and balances, it is very dangerous. aat is why the lesson is so propos today, because we have a massive keynesian state, as i call it, dedicated to stimulating and boosting and propping the economy. as a result of that, we have a $1 trillion deficit, both sides are dug in, everybody knows this cannot last. it is dangerous rolling down the road, and yet, the system has a serious inability to make compromises, to find packages that you can assemble a governing majority, so
to have you. '. >> hey, neil harwell does that include whatever tax revenue you get from illegals once the make their way to becoming legal? >> yes, it does. the difference between what they take out of the system and what they put into it is 6.3 trillion. so, there is certainly some taxes paids' some new revenue when they become legalized but they actually take more out of the system opposite they become legal, and over a 50-year period, this is something they're not talking about. they're trying to talk about a ten-year window, but the average unlawful immigrant is 34 years old, the actual actuaries say they'll live to 84, a 50-year period. the cost is 6.3 trillion, and the current american taxpayers have to pay for that. >> neil: of course, many of the critics of the study, said, well, republicansing for get to dynamic accounting, something they wanted when it came to calculating the benefits of tax cuts cuts and he the like, but they're not when it comes to whatever illegals, who eventually find a pathway to citizenship, bring to the economy, in terms of taxes they pay and what the
of omaha" think these markets are headed next? david: jobs, immigration and taxes and fiscal reform what has ceo's worried most? we go inside the minds of america's corporate leaders with the ceo of deloitte who advises more than 70%. fortune 500 companies. he sees a lot of these guys. he knows certain patterns the way they're thinking. speaking of warren buffett, take a listen to what he has to say about the job ben bernanke has done. >> there is no question that berkshire hathaway is better off today and the american people are better off today because of the actions of ben bernanke in keeping interest rates so low. david: but what do you think about that? do you awith warren? are we better off today because of ben bernanke's actions. log on to faceboo facebook.com/afterthebell. we'll read some of your answers a little later this hour. ♪ [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfo
to push for a simplified tax code. but in the quest for tax reform, they have essentially taken away is push for spending cuts. would he make of that? >> well, i think it is the old cart and horse velocit obviously since it was put together in 1984. that is the correct answer on taxes. but remember what milton friedman thomas. e real level of taxation is the level of spending. the real problem with this nation is burden with, we have a government that is too big and too wasteful. we have a government that spends $11 million to create one green job in an area of the economy that is nowhere near mature to contribute to the overall well-being of the economy. we have to correct this. the republicans can't understand , the requirement is to be on the spending side, and no amount of tax simplification can compensate. >> when i hear the administration bragging about the revenue coming in and saying that it justifies tax hikes and republicans then sort of give up the fight on spending cuts,for whatever meritorious reasons. >> minimizing is what it is. let's take something that is laudable, a
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